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Redfin
Location: 710 2nd Avenue, Suite 600, Seattle, Washington, United States United States
Founded in: 2004
Stage: Revenue generating
Number of employees: 50+
Short URL: vator.co/redfin
Followers (2)
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Redfin

Startup/business
Seattle, Washington, United States United States
http://www.redfin.com
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Company description

Redfin is the industry's first online brokerage for residential real estate. We believe that technology and a consumer-centered business model mean that we can get better results for our customers, at a completely different price.
How it Works: Buying a Home

Customers search for homes on our website, arrange home tours with Redfin and, when they've found a home they like, get started on an offer via our website. For each transaction, the same Redfin real estate agent handles the negotiations, contingencies and paperwork. The average customer saves more than $10,000 in commissions.
How it Works: Selling a Home

Customers use our website to tell us they'd like to sell a home, and then begin working with their Redfin team to get the home ready to sell and set the price. Once an offer comes in, Redfin negotiates on behalf of the customer and makes sure all the paperwork is taken care of. The average customer saves more than $10,000 in commissions.
Our Business Model

Our service is half on the Internet, half personal. Redfin's technology combines listings with objective data, including maps, property outlines, third-party appraisals and tax records. We base our service on data-driven best practices for buying and selling a home. Our business model focuses our personnel on customer service. We employ agents directly, and we compensate agents based on customer satisfaction. We believe this approach is not only more efficient, but leads to better service.

Our core value is consumer-driven innovation. We were the first to launch a map-driven search application in 2004, and the first to offer an online home-buying service in 2006. By January of 2008, we had refunded more than $10 million in commissions to home-buyers. According to MLS records, we were also able to negotiate a lower price for our customers than other brokerages could. We offer a 100% satisfaction guarantee.

Redfin earns fees from buyers or sellers that we represent in a real estate transaction. In Seattle, we have begun an experimental program to provide a mortgage service, charging a flat fee to act as a mortgage broker. These are the only ways today that we generate revenue.
Our History

The company is led by technology entrepreneurs from Plumtree Software and Applied Discovery, and backed by Madrona Venture Group, the original investor in Amazon.com. Other investors include Draper Fisher Jurvetson, Vulcan Capital, BEV Capital and The Hillman Company. We offer local service in Seattle, San Francisco, San Jose, Los Angeles, Orange County, San Diego, Boston and Washington, DC; we are expanding nationwide over the next two years, moving next to Chicago.

* About Redfin
o How We're Different
o The Redfin Advantage
o Management
o Contact Us
* Agents
* Customers
* Press
* Consumer Bill of Rights
* Redfin Blog
* Redfin Forums
* Frequently Asked Questions
* Jobs

Redfin Corporate Blog

* After Blogging, Only Shame
* 15 Questions to Ask When Hiring a Real Estate Agent
* I Want My… I Want My… I Want My CMA
* Cheating with Redfin
* Yahoo On Its Own: Why Isn’t Anyone on Yahoo’s Side?

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Redfin Direct Agent
Donald DeSantis, Seattle
"After spending years at big name brokerages, I wanted something fresh. This company spearheads change and makes the industry perform better. I’m proud to be part of the team."

The Redfin Advantage
The Redfin Advantage Graph
We negotiate better together.

Broker records show that Redfin agents and their customers negotiate a better price when buying a home.

* Find out why.

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